Stockholm’s Brakket Invest Picks Up MENA-Based Tech Firm
6.10.2021 11:00:00 EEST | Business Wire | Press release
Brakket Invest, a growth equity fund based in Stockholm and Dubai, signed an agreement this week to acquire BEON-IT, a SAP Gold-Partner firm with offices throughout the Middle East. The move will give Brakket Invest a foothold in the global tech industry as it gears up to launch its operations in Switzerland.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211006005013/en/
Stockholm’s Brakket Invest Picks Up MENA-Based Tech Firm (Photo: Business Wire)
“This acquisition confirms our commitment to fueling the growth of tech pioneers, especially in the GCC and DACH regions, where demand for SAP solutions continues to grow exponentially,” Brakket Group Managing Partner M. Hussein El Hakim says.
SAP is widely recognized as the global leader in enterprise software for the management of business operations.
BEON-IT: Digitalizing the Region’s SMEs
On October 6, 2020 a Big Four firm announced its acquisition of Tyconz Enterprise Business to expand its Technology and Digital Consulting Business. Tyconz’ SME business was excluded from the acquisition, and was later rebranded as Beon-IT.
With six offices across the region and a qualified team of over 50 Arabic-speaking experts, BEON-IT has served more than 200 blue-chip companies across the region, in a variety of industries like EC&O, manufacturing, retail, professional services and consumer goods.
Beon-IT CEO Shadi Abdelkhalek voiced his pleasure with the acquisition, which, he explained, would allow BEON-IT to achieve its full market potential. “We’re thrilled that the organization will be joining Brakket Invest, and are confident that the move will help it expand into new markets and offer its clients more innovative services,” he says.
Leveraging Booming Potential
With BEON-IT having been advised by Awad Capital Ltd., a DFSA regulated firm, and Brakket Invest’s expansive presence across the EMEA region, the new partnership abounds with growth potential. BEON-IT will now enjoy access to Brakket’s extensive SAP consulting expertise, diverse network of partners, and consolidated advisory resources.
“We’re particularly well-positioned to help BEON-IT realize its latent potential,” Brakket Invest’s el Hakim says. “This acquisition will enable us to solidify our tech capabilities as we join forces in the digital transformation of the region’s SMEs.”
Brakket Invest is a Dubai & Stockholm-based growth equity fund that invests in high-growth, high-potential ventures in deep-tech, Internet and consumer platforms, shaping & transforming them into tomorrow’s regional market leaders.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211006005013/en/
Contact information
M. Hussein el Hakim
+971 – 4313 2599
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Venture Global Announces Closing of $2.25 Billion of Senior Secured Notes12.6.2026 00:00:00 EEST | Press release
Venture Global LNG, Inc. (“Venture Global”) announced today that its wholly-owned subsidiary, Venture Global LNG, Inc. (the “Issuer”) has closed its offering of $1.125 billion aggregate principal amount of its 6.375% senior secured notes due 2034 (the “2034 Notes”) and $1.125 billion aggregate principal amount of its 6.625% senior secured notes due 2036 (the “2036 Notes” and, together with the 2034 Notes, the “Notes”). The Issuer used the gross proceeds from the offering to redeem all of the Issuer’s outstanding 8.125% senior secured notes due 2028 (the “Existing 2028 Notes”) and used cash on hand to pay the redemption premium and related fees and expenses for the offering and the redemption. The 2034 Notes will mature on December 15, 2034, and the 2036 Notes will mature on June 15, 2036. The Notes were issued at par. The Notes will initially not be guaranteed by any of the Issuer’s subsidiaries. In the future, certain of the Issuer’s subsidiaries that incur or guarantee certain amount
Venture Global and Atlantic-SEE Announce Expansion of Long-Term LNG Sales and Purchase Agreement with Greece11.6.2026 23:30:00 EEST | Press release
Today, Venture Global, Inc. (NYSE: VG) and ATLANTIC – SEE LNG TRADE S.A. of Greece announced an expansion of their existing Sales and Purchase Agreement (SPA) for the purchase of U.S. liquefied natural gas (LNG) from Venture Global for twenty years starting in 2030. Under the deal, Atlantic-SEE is doubling their existing contract with Venture Global from a minimum of 0.5 million tonnes per annum (MTPA) to 1.0 million tonnes per annum (MTPA). Atlantic-SEE LNG is a newly formed joint venture announced in November at the 6th Partnership for Transatlantic Energy Cooperation (PTEC) conference hosted in Athens, Greece between Greek companies AKTOR Group and DEPA Commercial. The announcement of this expanded supply agreement follows Venture Global’s previously announced investment in regasification capacity at the Alexandroupolis LNG import terminal in Greece, which currently accounts for approximately 25% of the terminal’s total capacity. The Alexandroupolis LNG FSRU receiving terminal and S
Merrithew ® Expands Global Mindful Movement Leadership with Acquisition of the GYROTONIC ® Organization11.6.2026 18:30:00 EEST | Press release
Merrithew®, a global leader in mindful movement education and equipment and creator of internationally recognized programs including STOTT PILATES®, ZEN•GA®, Halo® Training and Total Barre®, today announced the acquisition of the GYROTONIC® organization, creator of the globally respected GYROTONIC® and GYROKINESIS® methods. Founded by Juliu Horvath, the GYROTONIC® and GYROKINESIS® methods are internationally recognized for their distinctive approach to movement, combining fluidity, strength, mobility, coordination, and rehabilitation through specialized equipment and movement sequences. Practiced in studios and wellness centers worldwide, the methods have cultivated a deeply loyal global community of instructors, trainers, therapists, and movement professionals. The acquisition marks a significant milestone in Merrithew International Inc.’s growth strategy and reflects Merrithew’s commitment to growing the rapidly expanding global mindful movement category. The addition of the GYROTONI
GigaDevice Expands Optical Communication Portfolio with New GD32E512 and GD32E252 Series MCUs for Optical Modules11.6.2026 17:00:00 EEST | Press release
GigaDevice, a leading semiconductor company specializing in Flash memory, 32-bit microcontrollers (MCUs), sensors, and analog products, has introduced the new GD32E512 and GD32E252 series MCUs specifically designed for optical module applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260611850679/en/ Empowering Optical Interconnect Innovation, GigaDevice Unveils Dedicated MCUs for Optical Modules. As a leading supplier of MCUs for optical module applications, GigaDevice has maintained a strong focus on the optical communication market, continuously aligning its product development with evolving industry requirements and next-generation optical interconnect technologies. Leveraging years of expertise in optical module control solutions, GigaDevice has established a strong position in the market through continuous innovation and close collaboration with industry partners. To further support the advancement of high-sp
Saudi Arabia at the Center of the Global Water Industry as IDWS 2026 Reshapes the Future of Water11.6.2026 16:47:00 EEST | Press release
In an increasingly resource-constrained world, water has become critical to both economic growth and national security, driving demand for global leadership in sustainability, innovation, and water solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260611388456/en/ Saudi Arabia at the Center of the Global Water Industry as IDWS 2026 Reshapes the Future of Water (Graphic: AETOSWire) The Saudi Water Authority has announced the return of the Innovation Driven Water Sustainability Conference (IDWS), taking place from 7 to 9 December 2026 at The Ritz-Carlton, Jeddah, as the Kingdom consolidates its position at the center of the global water conversation. As home to one of the world’s most advanced and rapidly evolving water management ecosystems, Saudi Arabia currently operates more than 500 water production facilities across the Kingdom with total water production capacity exceeding 16.2 million cubic meters per day. The
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom